B. Riley Financial (NASDAQ:RILY) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

B. Riley Financial, Inc. (NASDAQ:RILY) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.57 and traded as high as $7.85. B. Riley Financial shares last traded at $6.92, with a volume of 1,419,558 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RILY. Wall Street Zen raised shares of B. Riley Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of B. Riley Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

B. Riley Financial Trading Down 10.6%

The company’s fifty day moving average is $7.57 and its 200-day moving average is $6.05. The firm has a market capitalization of $216.04 million, a P/E ratio of 0.98 and a beta of 1.27.

B. Riley Financial (NASDAQ:RILY) last announced its earnings results on Wednesday, January 14th. The asset manager reported $2.91 EPS for the quarter. The firm had revenue of $75.70 million during the quarter.

Hedge Funds Weigh In On B. Riley Financial

Several large investors have recently made changes to their positions in RILY. Soviero Asset Management LP bought a new stake in B. Riley Financial during the 3rd quarter valued at approximately $2,211,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of B. Riley Financial by 25.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,123,179 shares of the asset manager’s stock worth $5,245,000 after buying an additional 224,858 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of B. Riley Financial during the third quarter worth approximately $1,087,000. Federated Hermes Inc. boosted its position in shares of B. Riley Financial by 82.2% in the fourth quarter. Federated Hermes Inc. now owns 329,222 shares of the asset manager’s stock valued at $1,537,000 after acquiring an additional 148,554 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of B. Riley Financial in the fourth quarter valued at approximately $694,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

B. Riley Financial Company Profile

B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.

In addition to traditional investment banking, B.